Premier League giants Arsenal are reportedly readying a six-figure transfer fee for a Rangers starlet.

It's reported Mikel Arteta's side are keen on landing Ibrox kid Alexander Smith.

The Scotland under-16 talent - who has also represented USA at youth level - has been tracked by the Premier League side for a significant period.

And The Scottish Sun reports Arsenal are prepared to offer a six-figure compensation fee to sign Smith.

Smith caught the eye last April in the East Mallorca Cup where he won four man-of-the-match awards in five matches for the Rangers youth side.

It's now thought Arsenal are set for talks with Rangers about a deal to land Smith.

It comes after Chelsea previously cherry-picked Billy Gilmour from the Ibrox academy at a young age.

And Rory Wilson joined Aston Villa from Rangers' youth set-up after impressing in Scotland.

READ MORE: Cifuentes set for Cruzeiro debut as Rangers star cuts through red tape

Meanwhile, Jose Cifuentes has been given the all-clear to make his debut for Cruzeiro after he cut through red tape that threatened his move from Rangers on loan.

Manager Nicolas Larcamon said:  "Jose Cifuentes has now received his permit and has been registered to play with the Brazilian FA.

"He has been training with us since he arrived and is in the squad for Sunday's match.

"We are looking forward to what he can bring to the group. The loan is until December when Cruzeiro will make a decision on him."